NEW YORK, Aug. 13 (GenomeWeb News) - Stratagene, a developer, manufacturer and marketer of life science research and immunodiagnostics products, announced today that its second quarter revenues grew 16 percent to $19.7 million, compared with $17.0 million in the second quarter of 2003.
For the second quarter, Stratagene generated a net income of $1.5 million, or $.08 per diluted share, an increase compared with $1.1 million, or $.07 per diluted share in the same quarter of last year.
Research and development spending during the three months ending June 30 totaled $2.81 million - up compared to $2.75 million during the same period last year.
Results for the second quarter and first half of 2004 were impacted by one-time expenses of $2.4 million associated with the merger of the company with Hycor Biomedical on June 3 .
The company's cash, cash equivalents and marketable securities were $8.5 million
during the second quarter, and total assets were $85.7 million.